Down More Than 50%, Can Intel Stock Rebound on New Foundry Plans?

With its shares trading down more than 57% so far in 2024 while the S&P 500 is up roughly 18%, it's pretty clear that Intel (NASDAQ: INTC) is having a difficult year.Much of Intel's struggle is tied to its floundering foundry business. This business manufactures semiconductor chips for itself as well as for other chipmakers, and it is a rival to Taiwan Semiconductor Manufacturing. Intel started the unit in 2021 to help revive its overall business, but since then it has largely just piled up losses, including a $2.8 billion operating loss last quarter and $5.3 billion loss through the first half of the year. In a public letter released recently, the company detailed plans it hopes will help turn around its business.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool